Sensex, Nifty Seen Tad Lower At Open

(RTTNews) - Indian shares are seen opening lower on Friday as investors react to mixed earnings from Grasim, LIC and Zomato.

Telecom stocks could be in focus today after the Union Cabinet approved an auction of telecom spectrum this year for airwaves amounting to a cumulative reserve price of Rs. 96,317.65 crore.

Benchmark indexes Sensex and Nifty fell around 1 percent each on Thursday and the rupee settled on a flat note at 82.96 against the dollar after the Reserve Bank of kept its key interest rate unchanged for a sixth consecutive meeting.

Asian stocks traded mixed this morning, with markets in China, Indonesia, Taiwan and South Korea closed for public holidays.

The dollar edged towards a fourth weekly advance while the Japanese yen wallowed near a 10-week low.

Gold held steady while oil dipped slightly after rallying over 2 percent on Thursday to extend gains for a fourth straight session amid signs of a broadening conflict in the Middle East.

U.S. stocks eked out modest gains overnight as investors reacted to better-than-expected earnings, fresh Fed comments and higher yields following a large auction of 30-year government bonds.

In economic releases, data showed applications for U.S. unemployment benefits fell for the first time in three weeks.

The S&P 500 touched the milestone of 5,000 for the first time and set a record high before finishing marginally higher.

The Dow and the tech-heavy Nasdaq Composite edged up 0.1 percent and 0.2 percent, respectively.

European stocks closed mixed on Thursday amid heightened geopolitical tensions and growing risks of deflation in China due to weaker-than-expected economic recovery.

The pan European STOXX 600 finished marginally lower. The German DAX rose 0.3 percent and France's CAC 40 climbed 0.7 percent while the U.K.'s FTSE 100 slipped 0.4 percent.